When you're purchasing or selling a property, there are many different processes to be considered. For example, sellers need to put their property on the market to attract buyers. They also need to ensure that all paperwork for the property being sold is in good shape. Buyers would want to get the best bang for their buck while ensuring that they're purchasing a legitimate property.
Real estate agents and conveyancers are professionals who facilitate property transactions. Not only do they make it easier to locate or market a property, but they also streamline the closing process for sellers and buyers. However, there are significant differences between real estate agents and conveyancing solicitors.
Conveyancers spend more time on the legal nuances of property transfer
The core responsibility of a conveyancer is to handle the legal aspects of property transactions. There are many legal processes that surround buying and selling homes or commercial premises. For example, the title of the property needs to be checked for any issues, and multiple searches need to be carried out to ensure environmental compliance and fulfilment of municipal guidelines. Solicitors also prepare sale contracts that affirm the transfer of ownership from the seller to the buyer. Solicitors are responsible for verifying mortgage documents, records in the land registry, and property leases.
On the other hand, a real estate agent spends more time matching sellers to buyers. They mostly play a marketing role, where they help sellers in marketing their properties to the right buyer and at the right time. While real estate agents may also handle some aspects of financing (such as mortgage documents, many other legal processes fall under the domain of conveyancers.
Most real estate agents represent seller interests
Most real estate agents work on commission. As a result, they're driven to get the best deal for sellers so they can obtain better margins. It is not uncommon for sellers to market a specific buyer because they're looking to offer more for the home than anyone else.
Conveyancers, on the other hand, represent both buyers and sellers. The legal processes of property transfer are equally important to both sides, which means that having a solicitor by your side will be critical.
Conveyancers can provide more detail about a property
Through the thorough background work that solicitors do, they can provide unique insights about a property. For example, they can inform you of any previous ownership disputes on a piece of land, any pending municipal citations, water and drainage issues, and much more.
Conveyancers can also help you plan for all costs associated with property purchase. This includes land duty fees, closing costs, and land registry fees. Not all real estate agents can provide this much detail when connecting you to a seller.
For more information on conveyancing services, contact a real estate agent,Share
22 April 2020
Are you thinking about quitting your corporate job and moving to the country to keep chickens and enjoy the view? Are you tired of small towns and ready to trade your land for a charming house in the city? Are you happy where you are but just need a small change? Then, you are in the right place. Although all of those situations are vastly different, this blog aims to cover them all. Hi. My name is Melissa. Over the years, I've lived all over the country, and I've closely followed the real estate market every place I've been. This blog is the culmination of my experiences. I hope you like it.